regularisation of unauthorised colonies in punjab
Clean-up Act
Punjab government’s move to regularise unauthorised colonies in the state is drawing a mixed response from home owners and colonisers
Megha Mann

Unauthorised colonies have been a sore point in the growth of realty sector in Punjab for a long time. While individual home buyers have been living under constant uncertainty over the legality of their homes, the state has been losing revenue worth crores due to such deals. In order to restore some order, the state government has taken steps to regularise these colonies, but the process is not having a smooth run as there are a number of loose ends that are yet to be fastened to make the policy truly beneficial for the affected parties.

Punjab Government’s policy for regularisation of unauthorised colonies has come as a relief for the individual plot and house owners in unauthorised colonies whose assets had been declared illegal and registered deals of land had been suspended since October 1 last year. Besides giving the much-needed relief to common man, the policy has also set the government cash registers ringing.

However, the colonisers of these colonies, who have termed the policy faulty and ambiguous, are now running from pillar-to-post to collect documents in order to get their colonies regularised. On the other hand many colonisers, who had developed these colonies in the late 1990s, have adopted the wait-and-watch approach.

The government notification (dated August 21, 2013) of the Department of Housing and Urban Development states that a detailed survey conducted a few years back to identify unauthorised colonies in the state had identified 5,340 colonies that had come up on about 20,600 acres in various cities and towns. Now as per rough estimates the number of colonies has grown to about 10,000 involving approximately 40,000 acres. Besides this, a number of buildings in different categories have also come up in different parts of the state without the necessary approvals. Such sub-standard development of buildings and unauthorised divisions of land into plots is not only defeating the very objective of planned development but is also affecting the planned extension of services and amenities by the authorities.

However, the official number of colonies registered with various development agencies in state is at 3,701 in the state.

Loopholes and loose ends

As per the new Act, local bodies are not allowed to levy their own charges in addition to the ones required for regularisation of assets. However, recently the Bathinda Development Authority (BDA) got a call from Abohar complaining against the Abohar municipal council of charging malba fees as well as MC development charges apart from the regularisation charges.

People in cities like Jalandhar are also facing problems. The Jalandhar president of the Punjab Coloniser and Property Dealer Association, R.S Gill said, “In one particular case a man had bought land in a colony, which had been developed before 2007. "This man bought plot in 2011, but the area was developed before 2007. Despite this, he is being directed to pay charges applicable on establishments after 2007,” rued Gill.

While response from individuals has been appreciable, the colonisers are yet to come forth to get their colonies regularised. President of the Punjab Coloniser and Property Dealer Association Kultar Singh Jogi said the colonisers have to do a lot of paper work, which individual buyers don't have to do. “Our people have to take jamabandis (land mutations) of their colonies from the time they had bought the land. The older the colonies the more is the paper work involved”.

Jogi rued that the government officials, especially the ones from the revenue department, were not very helpful and there had even been cases of bribe being sought to get the work done faster. ‘The development agencies are short of staff. There are not enough people of these agencies in the field with whom we can discuss these issues,” added another developer from Nawanshahr.

In certain cases, wherein group of people had bought a piece of land jointly, the regularisation charges have not been fixed individually.

For instance, in an area four people have together bought 1000 sq yd land, which translates into each having 250 sq yd. “While one of the partners is willing to pay the regularisation charges, other three don’t want to. In such a situation the government should accept the application and charges of that individual plot holder and not insist that all four should pay together,” said an official of BDA while talking about one such case.

However, many colonisers, who have developed old colonies, are preferring to remain aloof from the procedure. One such ‘silent’ coloniser reasons, “I bought one acre of land for Rs 5 lakh from a farmer. All the registries were directly made in the name of plot holders and my name does not figure anywhere in the documents. Why should I pay the regularisation charges?”

However, Chief administrator PUDA, Manvesh Singh Sidhu, made it clear that fact-finding committees will be formed to trace the actual owners of colony and hold inquiries. “These owners will then reveal in whose name they have transferred the power of attorney or to whom they had sold the land further. No one will go scot-free.”

Penalty for defaulters

The applications for regularisation are being received till October 7. After this period, no more applications will be entertained and the government may start taking serious action against the offenders. This may involve registering FIRs against them.

The colonies, wherein less than 70 per cent area is authorised, no developmental works such as laying road, drinking water and sewerage pipes and power connections, will be initiated. Also the building plans and maps of these areas will not be passed and hence the owners will not be able to get any registry done in their names.

The money collected from different unauthorised colonies will be used for development in the same areas and hence people are bound to pay the charges. While ULBs will keep the amount collected from authorisation of colonies within MC limits, the development agencies will collect the money from respective colonies and deposit to in the state exchequer.

According to Manvesh Singh Sidhu as of now there is no plan to extend the last date from October 7. “The government is in no mood to offer laxity in any case. Depending on the response received and the pendency of cases, government will decide whether the last date has to be extended or not,” he said.

Sidhu added that once the exercise of getting the assets authorised in a suo motu manner ends, strict action will start.

Applying the new policy

Development agencies are holding camps all over the state to popularise the new policy. In Bathinda district, the Municipal Corporation Bathinda (MCB) is holding camps regularly to allow people to get their assets regularised on-the-spot. The rest of areas are being covered by the Bathinda Development Agency (BDA). 

The new policy under PAPRA Act

Giving one-time regularisation opportunity to the investors and owners of land in these areas, the government decided to amend the Punjab Apartment and Property Regulation (PAPR) Act under the provisions of The Punjab Laws (Special Provisions) Bill, 2013. The new policy is applicable for just a year till April 16, 2014, after which no new illegal colonies will be entertained and strict action will be taken against the offenders. However, according to the new policy no unauthorised colony or construction that has come up on or after April 1, 2013 will be regularised.

The policy has been framed keeping in mind the phenomenal increase in population owing to migration that has put tremendous pressure on land and infrastructure in Punjab.

The rules of Punjab Regional and Town Planning and Development Act, 1995 and Punjab Apartment and Property Regulations Act, 1995 have been moulded and tailored to suit the urban housing needs of the people keeping in view the Punjab Housing and Habitat Policy for Urban Housing to all.

The first notification of policy was issued on June 26, 2013. However, the rates mentioned were not acceptable to the public as well as real estate developers and agents. Based on their protests and request, the government then formed a committee to work on revising the policy. The committee reframed policy to make it simple and understandable.

Under the new policy, Deputy Chief Minister Sukhbir Badal had clarified, that the owner of plot or house will just have to give self-certified building plan and a copy of the registry. The rates for regularisation have been categorised into areas developed before 2007 and areas developed after 2007.

These two documents are considered enough for the regularisation of asset for the individuals. The charges are being applied in different slabs as per the collector rates applicable from April 1, 2013 onwards.

The backgrounder

The Punjab and Haryana High Court had pulled up Punjab Government in 2012 over the increasing number of unauthorised colonies in the state, which were not only burning a hole in the pockets of the state government, eating into its revenue earned from land transactions, but were also befooling gullible consumers.

In a knee-jerk reaction, the state government got hurried surveys conducted in all the districts and came up with a whopping number of 3,701 unauthorised colonies. The huge number proved that the state government had turned a blind eye to the mushrooming of such colonies for a long time.

Quiet intriguingly, there was no set parameter laid for declaring a colony unauthorised. The respective development agencies then categorised colonies into four classes:

* Colonies developed under the town-planning schemes

* Colonies developed under urban estate schemes

* Colonies developed by the improvement trusts

* Core areas notified by the respective urban local bodies (ULB)

Barring these four, all the other areas — even those that were developed decades ago — were included in the list of unauthorised colonies.

Most of the old developed “unauthorised” colonies have complete network of roads, sewerage and drinking water pipes laid by their respective urban local bodies (ULB). Many houses and commercial establishments even have their building plans duly passed by the respective ULB.

Most of the colonies declared unauthorised are densely populated and have existed even before the Punjab Urban Development Authority (PUDA) came into being.

The issue raised serious proportions when government issued diktat putting a blanket ban on the registry of houses and plots in these colonies on October 1, 2012. This led to an uproar, especially amongst the real estate agents and colonisers. Even the government revenue collected from sale of stamp papers and land deals fell considerably affecting the already weak economic condition of the state. Individuals, who have bought more than one house or plot as an investment to be sold in times of need, are also badly affected.

A number of delegations met the government officials and political big-wigs requesting for lift of ban imposed. However, with the hands tied by court, government could offer little solace. 

Ground Realty
The Wood element
Jagvir Goyal.

Cement, steel, bricks, sand and gravel are counted as the basic building materials required during construction of a house. However, wood too can be reckoned as a 'basic building material' as its use is no longer limited to just doors and windows of the house. There are several other items in a home that require the use of wood or products made from it. And each time, one has to make a careful choice of the wooden materials to be used in each item. Let's thus analyse various provisions in the house that require wood or wooden products:

Door and window frames

Door and window frames are the first wooden item required during the construction of the house. These need to be fabricated out of well-seasoned wood to avoid their warping during construction time or in the rainy season. The choice of wood for frames has to be made very carefully by the house builder. Though MP Teak is the best wood for frames, many house builders may not be able to afford it due to its high cost. For them, Ivory Coast teak or Sudan teak are the second best choices.

The section for door and window frames should be chosen carefully. It should be able to accommodate double rebate for provision of wire mesh shutters and paneled shutters. A 5 inch x 2.5 inch size proves sufficient. However, general trend is to choose 6 inch x 2.5 inch section for frames as it looks attractive. For the main door of the house, a bigger section of 10 inch x 3 inch section can be chosen.

Door and window shutters

Door and window shutters are the next items in wood to be provided in the house. Door shutters can be fully paneled or partly glazed. These days, some portion of the door shutters is made in stainless steel also. However, fully paneled door shutters look more elegant and always remain in fashion. A simple but attractive design can be chosen by the house owner for the paneled doors by providing grooves in the panels. Use of stainless steel in door shutters should be avoided. Initially, it looks attractive but soon, it starts giving a commercial look. Window shutters should be glazed, preferably provided with 5 mm thick toughened glass unless the shutter size is exceptionally large for which higher thickness of toughened glass can be chosen.

Mouldings

Door and window frames look awkward and half finished unless provided with wooden moulding along their periphery. Though there is no technical requirement of provision of such moulding to door and window frames, the difference its provision makes can be realised only after physical comparison of the frames with and without cover moulding. The moulding design and size should be finalised carefully. The size of moulding should be uniform and about 2 inch x ½ inch with its front face tapered towards the frame. Once the design is finalised, the carpenters get the 'bit' prepared for the same and thereafter, the job is easy. Thin lengths of wood saved during fabrication of frames and shutters can be utilized for making the moulding and carpenter can produce all the required moulding in one day or two. Cost of moulding varies depending upon its design. Once the carpenter has been engaged it is preferable to get the moulding fabricated from him instead of buying readymade moulding from the market.

Kitchen cabinets

Modular kitchen cabinets are fabricated out of ¾ inch thick water-proof ply board which is further provided with teak ply or decorative laminate facings. It is better to choose laminates for the inside and outside faces of ply board cabinets as the laminates don't allow water to affect the ply boards adversely. Cabinet shutters too are fabricated out of ply boards and laminated on both faces.

Dress cabinets

The dress cabinet is also made of wood or wood products. Beautifully designed dress cabinets can be fabricated out of ¾ inch thick ply boards with a mirror in the front and suitable number of shelves and drawers along side to store the cosmetics and other items. Dress cabinets should be equipped with sufficient lights. A functional idea is to provide the mirror on the open-able shutter of a six-inch deep cabinet in which coat and hat hooks can be hidden to hang the garments.

LCD Panels

Bedrooms and living room are these days provided with LCD panels to hang LCDs on them and to hide all the wires and cables behind them. Many types of cables like electric cables, HDMI cables, Audio-visual leads, dish cables, home theatre cables provided these days look odd when visible. All these cables get entangled with one another with the passage of time and give a messy and ugly look. LCD panels effectively hide all these cables from the sight. LCD panels can be fabricated out of ¾ inch thick, boiling-water proof ply boards with mica or teak plywood as the decorative facings.

Vanity boxes provided below the wash basin counters are also fabricated out of ¾ inch thick ply boards. These boxes can be a combination of drawers and open-able shelves. Use of ply boards, laminates and teak plywood again comes into picture here.

Stair railing

No stair railing looks as elegant as the one fabricated out of seasoned wood. The railing posts are fabricated out of seasoned and high quality solid wood pieces. The inclined runners, too, should be taken out of the wood of same quality to have a uniform look. Stainless steel pipes when run in combination with wooden runners give a pristine look to the railing and it becomes a high point of the house.

Gate and terrace railings

The main gate and the terrace railings these days display a combination of glass and wood. Spacers are used to affix the polished wooden planks and toughened glass panels on SS or MS framework. Care should be taken to match the holes in these planks and panels with those in the framework as no changes can be made at site once the holes are drawn in wooden planks and glass panels. Preferably, templates should be prepared at site to know the exact location of holes.

Other items

Crockery cabinets, meter niche shutters and pooja cabinets also demand the use of wood and wood products. Sometimes, house builders prefer to provide wood and glass partitions in lobby to isolate kitchen and drawing room. When provided with etched or frosted glass panels having patch work, these partitions can segregate the kitchen and drawing room without stealing the 'open area look' of the lobby.

(This column is published fortnightly)

Wire mesh shutters

Outer door openings and all window openings should be provided with wire mesh shutters. Many house owners who have a taste of living abroad tell the architect not to provide wire mesh door shutters as no such provision is made in the US or other European countries. However, climatic conditions are totally different in India and one must go for wire mesh shutters to the outer door openings. Windows should invariably have wire mesh shutters in the open-able portions. For the doors, these days, a combination of glass and wire mesh is also in vogue and it looks attractive. While the central panel is in designer glass, the top and bottom panels are in wire mesh. Such shutters provide a fair combination of privacy, ventilation and natural light.

WICs

Walk-in-closets also see an abundant use of wood products in them. Here again, ¾ inch and ¼ inch thick ply boards are used to fabricate the wardrobe cabinets and other WIC provisions. These are pasted with teak plywood on the facing and then polished. One should choose boiling-water proof (BWP), ISI marked ply boards for WICs. As the ¼ inch thick plywood at the back comes in contact with the walls, it should be protected with a poly sheet to avoid the effect of any moisture from the wall on the cabinets.

vaastu wisdom
Q. We have reserved space for kitchen garden in our home. Are there any specific plants that should be planted there according to Vaastu principles? — Narinder Singh
Madan Gupta Spatu

A. You can grow seasonal vegetables and use organic manure. According to Vaastu except rose and a few other medicinal plants, all thorny plants give rise to tensions in the environment. Cactus is the worst and according to Vaastu principles it causes cancer. The thorny or milk-producing plants emit negative currents. However, if the compound is large and permits enough distance while circumventing the house, a very limited number of such plants may be grown in the western half of the southern periphery or the southern half of the western periphery in case you are cactus lover. Priority should be given to papaya, mango, guava, custard apple trees. Gulmohur, Ashoka and Neem are also good choices if you are planning to have some shade-giving trees.

Amongst the beneficial plants, the best is Tulsi. If a bougainvillea or lime plant cannot be removed, its baneful effect can be drastically curtailed by keeping one or two Tulsi plants close by. Even otherwise Tulsi has an exquisite quality of neutralising negative currents and spreading health in the environment. It is advisable to keep at least one Tulsi plant in the north-east area of the premises, but its height should not exceed 1.5 meter.

— The writer is a Chandigarh based Vaastu consultant.
Mail your queriesto : vaastu@tribunemail.com

realty bites 
Parsvnath to develop commercial project near CP

Realty firm Parsvnath Developers will develop a commercial building on a plot on Kasturba Gandhi Marg near Connaught Place at a cost of around Rs 70 crore to achieve better sales realisation and brand value.

The company is expecting a sales realisation of over Rs 1,000 crore from its commercial project with saleable/leasable area of 1.3 lakh sq ft.

Parsvnath had acquired 1.18 acre of commercial plot at KG Marg in 2008 for Rs 212 crore. By 2011-end, the company had put this plot on block for about Rs 700 crore and had even appointed consultant Jones Lang LaSalle to find buyers.

“In 2011, we had decided to monetise this asset and received a couple of bids as well. But, later we changed our mind as owning a property in Connaught Place is an opportunity once in a life time,” Parsvnath Developers Chairman Pradeep Jain said.

He also said that the development of this project would help in achieving higher sales realisation of over Rs 1,000 crore compared with outright sale of plot and also lead to enhancement of company’s brand value globally. On project cost, Jain said: “We had bought this prime land for Rs 212 crore and will invest another ~70 crore on construction”.

The construction of the project started last week and will be completed in the next 18 months. The commercial building will have a salebale area of 1.3 lakh sq ft, of which 40,000 sq ft will be retail and the rest will be office space.

Jain said the company would utilise the sales realisation from this project to reduce net debt, which currently stands at about Rs 1,200 crore. “We are targeting to bring our debt to well below Rs 1,000 crore by end of this fiscal”. 

SRS eyes Rs 1,200-cr revenue in FY'14

Realty player SRS Real Infrastructure is eyeing Rs 1,200 crore of revenue this fiscal, mainly on the back of new launches, a top company official has said.

"The current economic scenario is certainly not favourable. But we are bullish about our growth prospects and expect to achieve a topline of Rs 1,200 crore this fiscal," the company's Chairman and Managing Director Anil Jindal said recently. The company had clocked a turnover of Rs 851 crore in 2012-13, registering over 17 per cent growth in FY 2012.

“We have a land bank of around 450 acres which offers us a rich scope for future developments. So overall, we are on a strong ground, and this makes me look confidently towards the future,” he said.

The BSE-listed firm has projects, including residential and commercial, mainly in the Delhi-NCR region.

“We have projects in Faridabad, Greater Faridabad, Palwal, Rewari, Kurukshetra and Panchkula. We recently entered Maharashtra by launching a project ‘Nex-Boulevard’ in Karjat, under which we will be offering villas, creating it as a second home destination for our customers,” Jindal said.

The company plans to launch over 2 million sq ft of projects during the fiscal. — PTI 

tax tips
Should I deduct TDS on payment to the builder?
S. C. Vasudeva email your queries to realestate@tribunemail.com ...

Q. I had entered into an agreement with a builder to buy a flat in Gurgaon in 2012 for Rs 80 lakh. The payment for this flat has to be made in instalments over a period of three years. I have to make a payment of about~10 lakh next month. I understand that I have to deduct tax at source @1% from such instalment and pay the same to the credit of government account. Is my information correct? — R.S. Kainth

A. The information given to you is correct as the Finance Act, 2013 has introduced a new Section 194-IA which requires that “Any person, being a transferee, responsible for paying to a resident transferor any sum by way of consideration for transfer of any immovable property (than the agricultural land) shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to 1% of such sum as Income-tax thereon”. It has further been provided that no deduction shall be made where the consideration for the transfer of immovable property is less than Rs 50 lakh.

You will, therefore, have to deduct @1% on the instalment of Rs 10 lakh payable in October 2013. For this purpose you should ascertain the Permanent Account Number of the builder so that the due credit can be claimed by builder for amount of tax deducted from the instalment payable to the builder. It may be added that it has been clarified in the aforesaid Section that taxpayer need not obtain a tax deduction account number for the purpose of depositing the aforesaid tax deducted at source.

Can I claim rebate on paying rent to mother?

Q. My father had purchased a plot. It is in the joint names of my father and me. I was 18 years old when this plot was purchased. I had no source of income at that time and I have not incurred any expenditure on it. My father had bought the plot and constructed a house on it from his own funds. For the past few years I have been paying house rent to my father regularly as I am living with my parents and am claiming income tax rebate. My father expired recently but before death he had made an agreement on plain paper that after his death I shall pay the house rent to my mother. My father has three legal heirs - my mother, my brother and me. We have not transferred the property in anyone's name so far. I want to continue claiming the tax rebate. What documents should I get now to claim rebate on the rent paid to my mother (in whose name the house has not been transferred so far). Moreover, is the agreement on a plain paper valid for this purpose?

I am working in a public sector unit and have no other income except salary. — J.S.Grewal

A. Your queries are replied hereunder:

* An exemption for the house rent allowance can’t be claimed in case the residential accommodation occupied by the assessee is owned by him or the assessee has not actually incurred expenditure on payment of rent in respect of the residential accommodation occupied by him. Therefore, in case you intend to claim exemption in respect of house rent allowance by making a payment of rent to your mother, the residential accommodation occupied by you should be owned by your mother. It would be essential for all the other legal heirs to relinquish their share in favour of your mother so that she becomes the absolute owner of the house. This may necessitate mutation in her name and obtaining a succession certificate in her favour as it seems from the facts given in the query that your father did not make a Will in her favour.

* Assuming that the process to make your mother as owner of the house has been completed, a rent receipt issued by her would be sufficient as an evidence to claim that rent has been paid to her and there is no necessity to enter into any agreement on a stamp paper for the purpose of claiming an exemption.

* Your mother would be assessable in respect of the rent so received and a return of income should be filed with the tax department in case her income from all the sources, including rent, exceeds the maximum amount on which tax is not payable.

Cost to the previous owner for computing capital gains

Q. Is there any provisions in the Income Tax Act whereby the cost of the asset is to be taken as the cost to the previous owner where the capital asset is acquired by inheritance or any other mode of acquisition? If so, please let me know what are the situations in which cost to the previous owner would be taken into account for the purposes of computing the capital gains? — K.I. Sarogi

A. In the following cases cost to the previous owner is deemed to be the cost of acquisition to the assessee:

* acquisition of property on any distribution of assets on the total or partial partition of a Hindu undivided family;

* acquisition of property under a gift or will;

* acquisition of property by;

(i) succession, inheritance or devolution, or

(ii) on any distribution of assets on the dissolution of a firm, body of individuals or other association of person (where such dissolution had taken place at any time before April 1987), or

(iii) on any distribution of assets on the liquidation of a company

(iv) under a transfer to a revocable or an irrevocable trust, or

(v) on any transfer, by a wholly-owned Indian subsidiary company from its holding company, or

(vi) on any transfer, by an Indian holding company from its wholly-owned subsidiary company, or on any transfer, in a scheme of amalgamation, by the amalgamated company from the amalgamating company satisfying conditions of Section 47(vi)/(via)/(viaa); or

(vii) on any transfer in a scheme of business re-organisation of a co-operative bank which comes under Section 47(vica) / (vicb); or

(viii) any transfer in a scheme of conversion of private company/unlisted public company into LLP which comes under section 47(xiiib); or

(ix) on any transfer in the case of conversion of firm/sole-proprietary concern into company which comes under Section 47(xiii)/(xiv) [applicable from the assessment year 1999-2000];or

* acquisition of property, by a Hindu undivided family where one of its members has converted his self-acquired property into joint family property after December 31, 1969. 

Loan Zone
S.C. Dhall ...

Q. My father and I want to build a house on a plot that is in my father’s name. He had lost the sale deed about 30 years ago but he has a certified copy of the sale deed with him. We also have the necessary approvals for construction of the house and have been paying tax for the plot every year. We have also got an affidavit and received a no- trace certificate from the police and have got the loss of sale deed published in newspapers. But most of the banks that we have approached for getting a loan for construction demand the original sale deed without which the loan would not be disbursed. What should I do? Is there any bank which will ok our loan? — R.K. Gupta

A. Normally banks avoid such cases where the original deed is missing or loan has to be disbursed on the basis of a certified copy of the sale deed. Certified copy of sale deed cannot replace the original deed when it comes to raising a loan. Banks normally don’t allow this as it is possible that the original sale deed has been kept with some other financial institution as collateral against some other loan. The property may be sold many times, but the validity and inviolability of the original deed would continue to remain there and if it had been kept with some financial institution against loan then the charge will move with the change in ownership. Even the search report or legal opinion by an advocate cannot trace such encumbrances where the original document is missing.

Nowadays banks check the authenticity of document using central registry of securitisation assets reconstruction and security interest of india to trace fraud and manipulation. So, you can try with some more banks and assure with appropriate indemnity to get the loan. A seperate collateral security can be helpful in such case. But remember, finally it is at the sole discretion of the bank, whether it will accept the loan application based on the available documents or not. I would suggest you to consult a local legal adviser as well.

launch pad
‘Rising Valley’ in Kumaon hills

Real estate developer Expertise India recently launched “Rising Valley” project in Uttrakhand. The project is located on Marchula Hills on the banks of Ram Ganga river and is at a distance of 7 km from Jim Corbett National Park . Giving information about the project Harvinder Mathur, Director of Expertise India said, “This mass level project will be spread over hree acre area and will have 40 fully furnished cottages of 900 sq ft area each”. The base price of the cottages will be Rs 29.5 lakh and the group is offering a wide variety of payment options like Down Payment (DP) and Time-Linked (TLP) Payment Plan.

The project will be completed in 24 months.

Plots in Ramprastha City

The Ramprastha Group has launched plotted development within its integrated township ‘Ramprastha City’ in Sector 92, 93 & 95 in Gurgaon. Independent plots in the integrated township are available in 300, 500, 800 & 1,000 sq. yd sizes with a starting price of Rs 66,000 per sq.m. Speaking on the occasion Nikhil Jain, CEO, Ramprastha Group said, “Dwarka Expressway has emerged as one of the most preferred real estate destinations in Delhi-NCR connecting the national capital and NH-8. These plots will give one an opportunity to build their dream homes within the periphery of the integrated township with top-end amenities.”

Trump Tower in Mumbai

The creator of the world’s most successful real estate brand, Trump, marks its entry into India's commercial capital, Mumbai, through a tie up with the Lodha Group. Trump Tower Mumbai will be the signature tower at The Park at Worli, forming part of Lodha's newly-launched 17.5-acre master-planned neighbourhood.

“Trump Tower Mumbai will be one of India’s most luxurious residences. This will offer the Indian consumer the very best in exclusive living, in the heart of South Mumbai," said Donald J. Trump.

Trump Tower Mumbai, surrounded by the 7-acre Park and located in South Mumbai’s preeminent location within Worli in South Mumbai, will soar over 800 ft into the city's skyline providing stunning views of the Arabian Sea. A gleaming golden edifice with a curtain-wall golden façade, the tower will have uber-luxe 3, 4 and 5 bedroom residences. The residences will come with dazzling interiors, including German Poggenpohl kitchens, 5-fixture master bathrooms, indoor Jacuzzi tubs, built-in TV's, an elite 7-level security setup and the very best of every aspect of interior design. Not only will the residents have access to the Park, the exclusive 7 acres of world class landscapes, but will also enjoy world-class concierge, valet and facility management services. Since its launch in August 2013, The Park has witnessed unprecedented interest from the market, with over 450 bookings worth over Rs 2,500 crore being received on the first day of the applications being accepted.

The Lodha Group has been at the forefront of developing designer luxury homes and iconic residences in Mumbai. Bookings for this iconic building are expected to begin in the coming months and prices are expected to be over Rs 8 crore for the 3 BHK and Rs 10 crore for the 4 BHK residences.

‘Havanna Heights’ in Kundli

Ansal API launched “Havanna Heights” luxurious twin towers at Sushant City, Kundli earlier this week. Havanna Heights is strategically located only 2.5 km from North Delhi border and is approximately a 20-minute drive from Delhi. The new project will have two towers with 35 apartments each with a huge pool, luxurious spa, well-equipped gym and a beautiful terrace lounge at the rooftop of each tower.

‘Avalon Ridgeview’ in Neemrana

The Avalon Group announced the launch of its latest project 'Avalon Ridgeview' in Neemrana. The project will be located on NH-8 near Japanese Zone. The Rajasthan Government through Rajasthan State Development & Industrial Corporation Ltd (RIICO) has developed industrial zones in various stages in Neemrana in Alwar district in several areas. The project will house approximately 800 apartments and is spread over 11 lakh sq.ft area. The tower blocks will have 2 & 3 BHK apartments ranging in size from 1,150 to 1,550 sq. ft. The project is expected to be completed in four years. The base price is 2,650 per sq ft and onwards.

‘Mahagun Mirabella' in Noida

Mahagun India Private Limited recently launched "Mahagun Mirabella", a roman themed luxurious residential project at Sector 79 in Noida. The project is spread over 5 acres will have a blend of premium high-rise buildings and luxurious villas. There are 3 high-rise towers with an elevation of 26 to 28 floors along with 16 luxurious villas. The high rise towers will have 2 (1380 -1400 sq ft) , 3 (1730-1880 sq ft) and 4 (2575-2720 sq ft) BHK apartments. Speaking on the occasion Dhiraj Jain, (Director, Mahagun India), said, “We have already sold 32 per cent flats on the launch of the project itself. Keeping in mind the ever-growing demand for premium space and amenities, we are committed to develop the entire infrastructure before the actual project work is initiated.”

High Street in Jalandhar

Curo Group launched Curo High Street in Jalandhar earleir this week. Claimed to be Punjab’s first European style market place the high street will be fully operational from January 2014. Speaking on the occasion Abhay Garg, Director, Curo India said, “The Curo High Street in Jalandhar is a state-of-the-art retail hub which will have exclusive areas for hypermarkets, anchor stores, multiplexes, food courts and entertainment zones.”

The ‘Street’ will serve as the one-stop premium luxury and entertainment solution for over 5,000 affluent families of the neighborhood areas likeVasantVihar, Jawahar Nagar, MS Nagar, New model town, Urban Estate Phase 1 & 2, ChotaBaradari 1 & 2 &Mota Singh Nagar. 

‘Edenia’ in Noida

Wave Infratech, recently launched multi-use studio apartment project, Edenia, at Wave City Center in Noida.

Edenia will offer 358 centrally air-conditioned studios with a commercial license which may be used as office (for work) and as well as homes (for living).

Available in sizes ranging from 422 sq.ft. to 678 sq.ft, these multi- use studio apartments will be priced between Rs 35 lakh and Rs 66 lakh. The studios come with a complete bouquet of services like concierge service, travel desk, housekeeping, laundromat, etc on demand.

The construction is expected to be completed by 2016 end. Apart from down payment plan and construction-linked plan, a Special Payment Plan of 40:30:30 is being offered by Wave City Center for Edenia where, 40 per cent of the total price is payable at the time of booking, 30 per cent on completion of the super structure and 30 per cent on the offer of possession.